Canaccord Genuity Group Boosts MicroStrategy (NASDAQ:MSTR) Price Target to $510.00

MicroStrategy (NASDAQ:MSTR) had its target price lifted by Canaccord Genuity Group from $300.00 to $510.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a buy rating on the software maker’s stock.

Several other analysts have also commented on the company. Maxim Group raised their target price on MicroStrategy from $193.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Cantor Fitzgerald assumed coverage on shares of MicroStrategy in a report on Wednesday, August 21st. They set an “overweight” rating and a $194.00 target price for the company. Benchmark increased their price target on shares of MicroStrategy from $300.00 to $450.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. BTIG Research upped their price objective on shares of MicroStrategy from $290.00 to $570.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Finally, Barclays increased their target price on shares of MicroStrategy from $225.00 to $275.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. One research analyst has rated the stock with a sell rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $479.25.

MicroStrategy Stock Performance

Shares of NASDAQ MSTR opened at $388.84 on Monday. The company has a 50 day simple moving average of $248.63 and a two-hundred day simple moving average of $181.70. The stock has a market cap of $78.79 billion, a price-to-earnings ratio of -184.55 and a beta of 3.05. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 1.12. MicroStrategy has a 12 month low of $43.87 and a 12 month high of $543.00.

MicroStrategy (NASDAQ:MSTR) last posted its earnings results on Wednesday, October 30th. The software maker reported ($1.56) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($1.44). The business had revenue of $116.07 million for the quarter, compared to analyst estimates of $121.45 million. MicroStrategy had a negative net margin of 87.05% and a negative return on equity of 17.31%. The company’s revenue for the quarter was down 10.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($8.98) earnings per share.

Insider Buying and Selling

In other news, CAO Jeanine Montgomery sold 56,250 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $257.41, for a total transaction of $14,479,312.50. Following the transaction, the chief accounting officer now directly owns 5,670 shares in the company, valued at $1,459,514.70. The trade was a 90.84 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Andrew Kang sold 5,700 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $257.15, for a total value of $1,465,755.00. Following the completion of the sale, the chief financial officer now directly owns 12,080 shares of the company’s stock, valued at approximately $3,106,372. This represents a 32.06 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 102,000 shares of company stock worth $32,259,177. 13.18% of the stock is owned by corporate insiders.

Institutional Trading of MicroStrategy

Several large investors have recently added to or reduced their stakes in MSTR. Geode Capital Management LLC grew its holdings in shares of MicroStrategy by 990.6% in the third quarter. Geode Capital Management LLC now owns 2,766,283 shares of the software maker’s stock valued at $465,573,000 after purchasing an additional 2,512,645 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of MicroStrategy by 587.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 664,261 shares of the software maker’s stock worth $111,994,000 after buying an additional 567,628 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of MicroStrategy by 971.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 639,707 shares of the software maker’s stock valued at $107,855,000 after buying an additional 579,994 shares during the period. Swiss National Bank lifted its holdings in MicroStrategy by 904.7% in the third quarter. Swiss National Bank now owns 468,200 shares of the software maker’s stock valued at $78,939,000 after acquiring an additional 421,600 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its holdings in MicroStrategy by 1,077.0% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 343,164 shares of the software maker’s stock valued at $57,857,000 after acquiring an additional 314,007 shares during the last quarter. 72.03% of the stock is currently owned by hedge funds and other institutional investors.

MicroStrategy Company Profile

MicroStrategy Incorporated provides artificial intelligence-powered enterprise analytics software and services in the United States, Europe, the Middle East, Africa, and internationally. It offers MicroStrategy ONE, which provides non-technical users with the ability to directly access novel and actionable insights for decision-making; and MicroStrategy Cloud for Government service, which offers always-on threat monitoring that meets the rigorous technical and regulatory needs of governments and financial institutions.